Wall Street’s multi-week rally shifted into higher gear this week, driven by strong earnings from Alphabet, Qualcomm, Amazon, and Apple. The S&P 500 and Nasdaq hit fresh record highs, with the Nasdaq closing above 25,000 for the first time—a bullish technical milestone for the index.
The rally held despite rising oil prices, a fragile Middle East peace, and higher bond yields following a divided Federal Open Market Committee (FOMC) meeting.
For the week, the Dow Jones Industrial Average gained 0.55 percent to close at 49,499. The S&P 500 rose 0.91 percent to 7,230, hovering near record territory. The Nasdaq Composite led gains for a fourth straight week, surging 1.12 percent to another all-time high, while the Russell 2000 added 0.93 percent….